Sunglasses Are Currently More Than a Fashion Accessory Which Is Driving the Market Growth

The sunglasses industry is undergoing a transformation in eyewear trends, characterized by alterations in purchasing behaviors, shifts in consumer demographics, diversification of consumer preferences, and changes in the decision-making processes of consumers. These significant developments have collectively influenced the overall market landscape. The global sunglasses market is anticipated to grow at a CAGR of 2.6% during the forecast period (2024-2031). The market growth is driven by the increasing awareness about the harmful effects of UV rays, the rising pollution, and the pivotal role of sunglasses in the fashion industry.

The sunglasses market is classified based on the type, design, frame material, distribution channel, and geography. Based on type, the market is segmented into polarized, and non-polarized. Based on the design, the market is segmented into aviator and pilot, rectangle, round, square, oval, cat eye, and others (browline or club master sunglasses, geometric sunglasses, keyhole bridge sunglasses, and oversized sunglasses). Based on frame material, the market is segmented into acetate, metal, injected, and others (titanium, carbon fiber, resin, and aluminum). Based on distribution channels, the market is segmented into supermarkets and hypermarkets, specialty stores, convenience stores, and online sales channels. Based on geography the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, and the Middle East & Africa).  

Sunglasses Market Size and Forecast by Design, 2026 (%) 

The rectangle sunglasses are anticipated to hold the largest market share during the forecast period. Additionally, it is anticipated to grow at the highest CAGR of 4.0% by 2031. The segmental growth is attributed to the rising demand for the frame shape among the working youth, travel lovers, and athletes. The rectangle sunglasses meet the needs of consumers who want both practicality and style. Additionally, the market players are contributing significantly to meet this growing demand. For instance, PM International, LLC dba Matsuda offers a bold rectangular lens shape and bright-coloured Japanese acetate making the M3124 a modern sunglass with a unique Matsuda twist a TV-cut acetate insert, and filigree-adorned titanium temples.

Competitive Landscape 

The major market players in the sunglasses market include Estee Lauder Companies Inc., PVH Corp., and Eddilor Luxottica Group among others. These are contributing significantly to the market growth by adopting various business strategies, such as partnerships, mergers & acquisitions, and product innovation. For instance, in April 2024, EssilorLuxottica announced the successful acquisition of Washin Optical Co., Ltd., a prominent Japanese optical retail company. Washin Optical has around 70 direct stores across Japan and is known for its commitment to quality and consumer satisfaction. This agreement marks a significant move in developing the vision care market in the region, intending to elevate the recognition of high-quality eyewear and eye care solutions among Japanese consumers while aiming for superior customer service.